Toyota to invest $13.5 billion in electric vehicle battery technology by 2030

by SpeedLux
Toyota bZ4x SUV

Toyota Motor said on Tuesday that it expects to invest more than $13.5 billion by 2030 for developing batteries and its battery supply system.

Toyota, the world’s largest automaker by volume, which pioneered hybrid gasoline-electric vehicles with the well-known Prius, is moving ahead to deliver its first all-electric line-up by 2022.

The automaker said it intended to cut the cost of its batteries by 30% or more by working on the materials used and the way the cells are made.

“Then, for the vehicle, we aim to improve power consumption, which is an indicator of the amount of electricity used per kilometer, by 30%, starting with the Toyota bZ4X,” Chief Technology Officer Masahiko Maeda informed a briefing, referring to an upcoming compact SUV model.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More